ABN-AMRO 4TH APRIL 2007

The UK economy looks more vulnerable to a housing downturn than the US.
Consumers depend more on housing as a source of wealth. The banking sector could
also be exposed. Most worrying, if a housing correction undermines confidence in
sterling, the BoE might be unable to cut interest rates to soften the impact.

TRUTH HURTS SHEEPLE!

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